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Tanzania

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Tanzania

Insurance Intelligence

Providing expert analysis, independent market insight and company data on the insurance industry.

Insurance market reports are produced following a country visit with interviews with professionals working in the sector with systematic updates to information throughout the cycle. Covering market developments, macroeconomic factors and comprehensive details of the regulatory environment including relevant taxation as well as market indicators and company statistics.

Axco’s Tanzania Non-Life Insurance Market Report (P&C) also comprises a detailed analysis of lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers’ liability and liability.

The Life & Benefits Report for Tanzania includes detail on social security, healthcare, individual life assurance and pensions information as well as market statistics and life company statistics

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Information for Tanzania can be seen in:

Insurance Market Reports (Non-Life) Insurance Market Reports (Life & Benefits) Global Statistics Regulatory Alerts Market Profiles Insight Compliance Compliance Point Clinical Trials Axco API Insight Risk Manager

Country Information

Time-zone
Capital city
Currency
Population
Real GDP growth (%)
Inflation (%)
latest GWP
Insurance Penetration (%)
GMT +3
Dodoma
TZS
59.73 mn
5.89 (2020)
3.57%
163,138.00
0.55

The Tanzanian market is one of the smallest and lowest penetrated, however, various positive factors may influence the growth of the insurance market, over the next few years, such as the minimum premium rates and a reduced reliance on reinsurance.

Gross written non-life premiums (excluding healthcare) in 2017 amounted to TZS 425.99bn down 8.66% from 2016. Health premiums written by non-life companies amounted to TZS 130.31bn, an increase of 9.14% from the previous year. 

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